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Rusoro Mining Announces the French Supreme Court Reinstates Arbitral Award for approximately US$1.58 billion
Rusoro Mining Announces the French Supreme Court Reinstates Arbitral Award for approximat...
About this update from Rusoro Mining Ltd.
[{"type":"text","content":"\n \n \n \n Rusoro Mining Announces the French Supreme Court Reinstates Arbitral Award for approximately US$1.58 billion\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n Trading symbol (TSX-V):  RML\n \n \n VANCOUVER, BC,\n \n March 31, 2021\n \n /CNW/ -\n \n Rusoro Mining Ltd. (the \"Company\" or \"Rusoro\")\n \n announced this morning that the French Supreme Court, the\n \n Cour de Cassation\n \n , overturned the decision of the\n \n Paris\n \n Court of Appeal which had annulled part of the damages portion of the arbitral award previously rendered in favour of the Company. Mr.\n \n Andre Agapov\n \n , CEO of Rusoro, noted that this decision reinstates the arbitral award in full and will allow the Company to continue to vigorously pursue recognition and enforcement of the award, the value of which is currently approximately\n \n US$1.58 billion\n \n (representing the original award amount of\n \n US$967.77 million\n \n plus approximately\n \n US$612.23\n \n of interest as calculated by the Company). Please refer to the Company's news release dated\n \n August 23, 2016\n \n and the Company's latest financial statements for the period ended\n \n September 30, 2020\n \n for further information. Rusoro intends to pursue all available options to collect on the reinstated award or otherwise obtain fair compensation for the unlawful expropriation of its investments in\n \n Venezuela\n \n .\n \n \n ON BEHALF OF THE BOARD\n \n \n \n \"Andre Agapov\"\n \n \n \n \n Andre Agapov\n \n , President & CEO\n \n \n \n Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\n \n \n \n \n \n Forward-looking statements:\n \n \n \n \n \n This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as timing and results of an appeal with the French Su...